Hedge Funds Institutional Investors

Norway's Telenor goes direct

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Norway's Telenor Pensjonskasse, one of the top corporate pension funds in the country, has dropped its fund of funds holdings after making the decision to invest directly.

The $847 million plan had invested around $17 million as an initial investment across three fund of hedge funds: two run by Storebrand and one from DnB NOR Asset Management.

It is understood, however, that a combination of relatively high fees and poor performance has seen the plan grow disenchanted with the fund of funds route and the assets have instead been allocated